GDP per capita is defined as?

GDP per capita is defined as?

• A. Total GDP of the country
• B. Average income per person for a year
• C. Number of people employed
• D. GDP growth rate

Answer: (B)

GDP per capita shows the average economic output or income available to each person in a country in a year. It is found by dividing the total value of all goods and services produced (GDP) by the number of people living there. This makes it a per-person measure, rather than the overall size of the economy. The option that describes average income per person for a year matches this idea. The other descriptions refer to different concepts: total GDP is the size of the economy, the number of people employed relates to the labor market, and the GDP growth rate measures how GDP changes over time.

GDP per capita shows the average economic output or income available to each person in a country in a year. It is found by dividing the total value of all goods and services produced (GDP) by the number of people living there. This makes it a per-person measure, rather than the overall size of the economy. The option that describes average income per person for a year matches this idea. The other descriptions refer to different concepts: total GDP is the size of the economy, the number of people employed relates to the labor market, and the GDP growth rate measures how GDP changes over time.